China Gold (02099) 1Q profit down 72% to US$1.78m

[ET Net News Agency, 16 May 2018] China Gold International Resources Corp. (02099) said its profit attributable to owners for the three months ended 31 March 2018 dropped 71.85% year-on-year to US$1.78 million. Basic earnings per share were US0.45 cent.

Revenues amounted to US$107 million, an increase of 29.9% from a year earlier. Gold production from the Chang Shan Hao Gold Mine increased by 4% to 36,042 ounces from 34,540 ounces for the same period in 2017. Copper production from the Jiama Mine decreased by 7% to 7,061 tonnes (about 15.6 million pounds) from 7,582 tonnes (about 16.7 million pounds) for the same period in 2017. Gold produced was 10,222 ounces compared to 8,160 ounces for the same period in 2017. (HL)